Home Partners

Property Criteria

We believe that high-quality homes in affordable neighborhoods will increase the likelihood of success for our residents. Certain factors are outlined that may prevent us from purchasing a home, despite being listed on our website. Properties that do not meet our basic criteria are filtered out from search results.

We have provided the information below to help prospective residents and their agents determine if a home is eligible for the Lease Purchase Program. Please note that this is not a comprehensive list and criteria is subject to change. Homes listed on our website may be ineligible for the Program, and we reserve the right to reject any property for reasons other than those listed here.

All prospective residents must view the inside of the home in person before we will make an offer to purchase. Virtual showings or having someone view the property in place of a prospective resident are not acceptable alternatives to seeing the home in person.

Property-Criteria-Good-Option
Please note that this is not a comprehensive list and criteria is subject to change. Homes listed on our website may be ineligible for the Program, and Home Partners of America reserves the right to reject any property submittal for reasons other than those listed here. Prospective residents must physically walk through the home. (Virtual showings do not meet this requirement.)

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our comprehensive

Property Guide

What we buy

  • Homes must be located in one of our approved communities.
  • Single-family homes and fee-simple townhomes in good cosmetic and structural condition including any outbuildings.
  • Traditional sale or for sale by owner (FSBO) homes.
  • List price no more than our maximum purchase price which varies by market.
  • The property must have at least two above-grade bedrooms and on two acres or less.
  • New construction homes that are 100% complete prior to submittal and have central air conditioning.
  • New subdivisions/a new phase of a subdivision must be at least 50% complete.
    • Builder must use the standard state contract and not require any additional addenda.
    • We use the Pulte Homes contract on a regular basis. All other builders work with us on a case-by-case basis.
  • Homes must have central air conditioning (exceptions may apply in CO, OR, and WA).
    • All new construction homes must have central AC regardless of location.
  • In-ground pools are only considered in Florida with an added monthly maintenance fee.
  • Homes with a door on a raised level must have a balcony, deck, staircase, or railing built on the exterior.
  • We will consider homes with synthetic stucco facades on a case-by-case basis.

What we do not buy

  • Condominiums or properties under condominium ownership.
  • Homes within close proximity to structures that could impair value including industrial buildings, high traffic roads, railroad tracks, high tension powerlines, or airport runways.
  • Commercial, modular homes, log cabins, mixed-use or manufactured housing properties.
  • Short sale, foreclosure or probate properties, bank-owned properties, or any property sold at auction or by a government agency.
  • Home Partners cannot purchase commercial, modular homes, log cabins, mixed-use or manufactured housing properties.
  • If the seller is Offerpad, Zillow, Redfin, Najarian Capital LLC, or any relocation company.
  • If the seller is Opendoor, we will not consider homes built prior to 2010 in Georgia, and prior to 2000 in all other states.
  • Homes within a 100-year flood zone unless the property has a base flood elevation variance of -1.5 ft or greater. Click here for details and exceptions.
  • We will not purchase homes that are over 100 years old.
    • Homes built in Maryland, Pennsylvania, Illinois or Michigan before 1978 will not be considered.
    • We will not purchase homes over 30 years old that are in original condition or with obsolete floorplans, electrical, or plumbing.
  • Properties with tax rates including special service/community development/Mello-Roos fees greater than 4% of the property’s value.
  • Homes with above-ground pools unless the Seller agrees to remove the pool and re-sod any bare portions of the lawn prior to closing.
  • Homes with indoor pools or large exercise spas.
  • Homes with a dirt driveway, and/or a dirt access road.
  • Homes with leased solar panels or homes with SolarCity/Tesla solar panels.
  • Homes with unfinished rehab projects, liens, open permits, or unpermitted rehab work.
  • Homes with any environmental hazards (e.g. mold, lead paint, vermiculite insulation, asbestos, etc.).
  • Homes with seepage or subject to flooding will not be considered.
  • Homes with a history of sinkholes on or near the property, regardless of if the sinkhole has been repaired.
  • Homes with oil tanks or that use propane tanks as the primary heating source.
  • Homes with well or septic systems.
  • Homes that have sunrooms with glass ceilings.
  • Homes that are furnished or not empty of the seller’s belongings prior to closing. We do not negotiate for personal property aside from standard appliances.

Other Considerations

Homeowner Associations (HOAs)

Homes must be located in HOAs that allow leasing without requirements for background/credit checks or interviews.

  • Other HOA conditions that will disqualify a property from our consideration:
    • Minimum period of owner occupancy
    • Age-restricted communities
    • Maximum rental period
    • Board approval of the lease post-closing
    • Requires membership in a country club or any other golf, tennis or recreational facility
    • Assesses excessive capital contributions or registration fees, and/or annual HOA dues exceeding 1% of the home list price
    • Deems HOA to be a third-party beneficiary of the lease
    • Empowers HOA with right to evict resident on our behalf
    • Rental caps (exceptions are considered on a case-by-case basis)

We can provide HOAs with basic resident information, such as name, phone number, email, vehicle information and pet information. This allows us to rent to approved households, regardless of HOA requirements.

Documentation Requirements

When submitting an HOA property for our consideration, the following HOA documents will be reviewed as part of our due diligence:

  • Budget
  • Certificate of Insurance
  • Covenants, Conditions, and Restrictions (CCRs)
  • Bylaws
  • Rules & Regulations (If applicable)
  • Home Partners’ HOA Questionnaire

The documents listed here convey valuable information regarding our ability to acquire and lease the home. We must receive these as soon as possible following execution of the purchase contract, and in no event after the expiration of the due diligence/inspection period. Failure to provide these HOA documents to us in a timely manner will likely result in termination of the transaction.

Rental Ordinances

Many county or municipal governments require a rental license inspection prior to move-in. Please note that homes in these areas may delay move-in dates for 30 days or more after the closing date. Please check with the county and municipality in which the property is located to confirm their rental license requirements.